Created
: 2024.06.20
2024.06.20 23:26
The Pound Sterling collapsed during the North American session, below the 1.2700 figure after the Bank of England (BoE) decided to keep rates unchanged but hinted at a possible cut in the summer. The GBP/USD trades at 1.2677, down 0.30%.
From a technical perspective, the GBP/USD is neutral to upward biased, but as it approaches the confluence of the 100-day moving average (DMA) and the May 3 high turned support at around 1.2643/38, a pierce underneath that zone, would accelerate the downtrend, change the pair bias and challenge the 50-DMA at 1.2619. Further losses are seen underneath the atter at 1.2600, ahead of testing the 200-DMA at 1.2551.
On the other hand, if buyers lift the exchange rate above 1.2700, the GBP/USD might get to the current week's high of 1.2739. Once cleared, the next stop would be the already tested 1.2800 mark.
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Swiss Franc.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.13% | 0.29% | 0.35% | -0.12% | 0.00% | 0.03% | 0.74% | |
EUR | -0.13% | 0.15% | 0.22% | -0.25% | -0.12% | -0.11% | 0.61% | |
GBP | -0.29% | -0.15% | 0.06% | -0.39% | -0.27% | -0.26% | 0.45% | |
JPY | -0.35% | -0.22% | -0.06% | -0.49% | -0.33% | -0.35% | 0.39% | |
CAD | 0.12% | 0.25% | 0.39% | 0.49% | 0.11% | 0.13% | 0.85% | |
AUD | -0.01% | 0.12% | 0.27% | 0.33% | -0.11% | 0.01% | 0.74% | |
NZD | -0.03% | 0.11% | 0.26% | 0.35% | -0.13% | -0.01% | 0.72% | |
CHF | -0.74% | -0.61% | -0.45% | -0.39% | -0.85% | -0.74% | -0.72% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Created
: 2024.06.20
Last updated
: 2024.06.20
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy